Aircraft Engine Market
Report ID: SQMIG20R2073
Report ID: SQMIG20R2073
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Report ID:
SQMIG20R2073 |
Region:
Global |
Published Date: August, 2025
Pages:
177
|Tables:
119
|Figures:
76
Global Aircraft Engine Market size was valued at USD 63.39 Billion in 2024 and is poised to grow from USD 95.78 Billion in 2025 to USD 2602.56 Billion by 2033, growing at a CAGR of 51.1% during the forecast period (2026–2033).
Rising global air traffic, high demand for fuel-efficient aircraft engines, increase in military aircraft procurement, and surge in demand for better MRO (Maintenance, Repair & Overhaul) services are slated to bolster revenue generation for aircraft engine vendors.
The increasing number of air travelers, especially in emerging economies, is a major driver for the aircraft engine market growth. Rising environmental concerns and volatile fuel prices are pushing airlines toward fuel-efficient and environmentally friendly aircraft engines. Engine manufacturers like GE, Rolls-Royce, and Pratt & Whitney are investing in hybrid-electric and geared turbofan technologies to optimize fuel burn. Global defense modernization programs are spurring demand for advanced military aircraft and their engines. Fighter jets, drones, and transport aircraft need powerful and durable engines capable of operating under extreme conditions. As global fleets grow and age, the demand for engine MRO services surges. Aircraft engines require regular inspection, parts replacement, and performance restoration to ensure flight safety and regulatory compliance.
On the contrary, high development and procurement costs, stringent certification processes, geopolitical tensions, and supply chain disruptions are forecasted to hamper the global aircraft engine market penetration across the study period and beyond.
How is Digital Twin Technology Changing the Way Aircraft Engines are Used?
Digital transformation is revolutionizing engine performance management through technologies like digital twins, AI, and IoT. Digital twins—virtual replicas of physical engines—enable real-time monitoring, simulation, and predictive maintenance. Airlines and OEMs use these tools to detect anomalies, optimize engine performance, reduce downtime, and extend engine life. Predictive analytics lowers MRO costs and minimizes unplanned maintenance, improving operational efficiency. GE’s “TrueEngine” and Rolls-Royce’s “IntelligentEngine” exemplify this trend. As engines become smarter and more connected, digital solutions provide data-driven insights that enhance safety and reliability. This trend is reshaping how engines are monitored, maintained, and upgraded throughout their lifecycle.
Market snapshot - 2026-2033
Global Market Size
USD 58.1 billion
Largest Segment
Commercial
Fastest Growth
Military
Growth Rate
51.1% CAGR
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The global aircraft engine market is segmented into technology, engine type, component, end user, and region. By technology, the market is classified into conventional engine and electric/hybrid engine. Depending on the engine type, it is categorized into turboprop engine, turboshaft engine, turbofan engine, and piston engine. According to component, the market is divided into compressor, turbine, gear box, combustion chamber, fuel system, and others. Based on mode of operation, the market is segmented into piloted and autonomous. Based on end user, the market is segmented into commercial (narrow body, wide body, business jet, general aviation, helicopter) and military (fighter aircraft, transport aircraft, military helicopter). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & and Africa.
Which Type of Aircraft Engines are Used Extensively?
The conventional engines segment is forecasted to spearhead the global aircraft engine market revenue generation in the future. Proven reliability and compatibility of conventional engines with existing aircraft infrastructure are helping this segment hold sway over others. Mature supply chains, global maintenance networks, and regulatory familiarity contribute to continued preference of conventional aircraft engines on a global level.
Meanwhile, the demand for electric and hybrid aircraft engines is slated to rise at a rapid pace over the coming years. Growing emphasis on emission reduction in the aviation industry and advancements in electric propulsion technologies are creating new business scope via this segment. Urban air mobility and regional commuter aircraft are early adopters of electric propulsion.
Where are Most Aircraft Engines Deployed?
The commercial segment is projected to account for a substantial chunk of the global aircraft engine market share in the future. Rapidly increasing number of flights around the world and expansion of commercial airline fleets are helping this segment bring in the most business. With rapid fleet expansions by low-cost carriers and widebody aircraft usage for international travel, commercial aviation consistently drives the highest revenue share in the engine market.
On the other hand, the demand for aircraft engines in military segment is slated to rise at an impressive CAGR through 2032. Launch of new military modernization programs and rapidly surging demand for advanced fighter jets, unmanned aerial vehicles (UAVs) is helping boost the sales of aircraft engine via military segment.
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Why Aircraft Engine Companies Target North America?
High defense expenditure and presence of a mature aerospace ecosystem are helping this region spearhead global demand for aircraft engines in the future. Strong R&D capabilities, large airline fleets, and a high rate of aircraft modernization are also expected to bolster the dominance of North America through 2032 and beyond. Export strength, global partnerships, and a steady replacement cycle for aging commercial and military fleets are also supporting the sales of aircraft engines going forward.
Aircraft Engine Market in United States
Presence of an advanced aviation infrastructure and strong government support is helping the United States lead aircraft engine demand in North America. Aircraft engine innovation is led by companies such as Joby Aviation, Archer, and Wisk as they focus on FAA certification processes. Cities like Los Angeles and Miami are witnessing the launch of novel urban air mobility projects. With robust funding, regulatory momentum, and a mature aerospace industry, the United States remains the most advanced eVTOL market worldwide.
Aircraft Engine Market in Canada
Strong innovation policies, clean aviation goals, and vast regional transport needs are governing the adoption of aircraft engine in Canada. The surge in popularity of point-to-point air mobility, especially in remote and underserved areas, is also expected to create new business scope for market players. Transport Canada is collaborating with industry stakeholders on certification frameworks. Growing emphasis on vertiport integration into urban planning across Canadian airports is also slated to boost revenue for aircraft engine companies.
How will Aircraft Engine Demand in Asia Pacific Perform?
Asia Pacific is the fastest-growing region for aircraft engine companies backed by rapid aircraft fleet expansion, surging air passenger traffic, and rising defense budgets. Growing investments in domestic aircraft manufacturing and expansion of aviation infrastructure are also expected to help create new opportunities going forward. OEMs and MRO providers are expanding operations in Asia to meet demand. Government aviation policies and investments make this region a global hotspot for long-term aircraft engine demand.
Aircraft Engine Market in Japan
Launch of new safety and air traffic guidelines tailored for aircraft engine, strong government support, and industrial involvement are forecasted to support market growth in Japan. Major corporations like Toyota and Japan Airlines are investing in electric aviation projects. The country’s emphasis on automation, compact city designs, and tech-forward urban planning makes it fertile ground for early eVTOL adoption and innovation in this region.
Aircraft engine Market in South Korea
Public-private partnerships and government support through aviation initiatives are helping keep aircraft engine demand afloat in South Korea. The Ministry of Land, Infrastructure and Transport (MOLIT) of the country has launched the K-UAM Roadmap, which aims for commercial eVTOL services. Hyundai’s Supernal, in collaboration with KT and Incheon International Airport, is building a complete urban air mobility ecosystem including aircraft, infrastructure, and operations. South Korea’s tech-driven economy and policy alignment make it a regional leader in aircraft engine innovation.
Should Aircraft Engine Providers Invest in Europe?
Military aviation advancements and high emphasis on sustainable aviation are anticipated to shape the demand for aircraft engines in Europe. Presence of top aircraft engine manufacturers such as Rolls-Royce, Safran, and MTU also ensures sustained revenue generation in this region. Innovation in electric propulsion and collaborative R&D initiatives like Clean Sky strengthen Europe’s competitiveness, making it a strategic region for engine development and eco-friendly aviation solutions.
Aircraft Engine Market in United Kingdom
The demand for aircraft engines in the United Kingdom is expected to be governed by emphasis on sustainability and presence of Rolls-Royce, a global leader in wide-body and business jet engines. Robust MRO services, export-driven production, and government-backed R&D initiatives keep the country highly competitive in both commercial and military engine markets worldwide. Demand for hydrogen and electric aircraft engine technologies is expected to rise rapidly in the United Kingdom through 2032.
Aircraft Engine Market in Germany
Presence of a robust aerospace engineering base and active role in European aviation programs make Germany a key market for aircraft engine manufacturers. Demand for aircraft engines from Lufthansa and defense platforms like Eurofighter Typhoon is helping boost revenue generation in the country. Germany’s role as a major MRO hub for multiple aviation giants in Europe is also predicted to drive sales of aircraft engines. Strong government funding and industrial collaboration ensure Germany remains pivotal in engine innovation, production, and aftermarket services within the European Union.
Aircraft Engine Market in France
Presence of a robust domestic aircraft and aircraft component manufacturing industry makes France a rewarding market for aircraft engine companies. The country plays a major role in Airbus aircraft development, supporting large-scale engine production and exports. Production of Rafale fighter jets and the FCAS (Future Combat Air System) are also driving the demand for advanced aircraft propulsion systems. With strong OEM capability, defense ties, and commitment to sustainable aviation, the country remains central to Europe’s aviation industry development.
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Aircraft Engine Market Drivers
Expansion of Low-Cost Carriers (LCCs)
Advancements in Engine Technology
Aircraft Engine Market Restraints
Supply Chain Disruptions and Raw Material Constraints
Stringent Regulatory and Certification Norms
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Aircraft engine providers should focus on investing more in R&D to create novel engine technologies going forward. Integration of advanced autonomous systems and use of sustainable fuels is slated to offer new business scope for companies as per this global aircraft engine market analysis.
Sustainability is the prime focus of all startups working in the global aircraft engine industry. Here are a few startups that could change the future of aviation fuel through its innovations.
Top Player’s Company Profiles
Recent Developments in Aircraft Engine Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising air traffic around the world and advancements in engine technology are slated to primarily drive the demand for aircraft engines going forward. However, stringent certification processes and high costs of development and procurement are expected to slow down the demand for aircraft engines in the future. North America is forecasted to emerge as the leading market for aircraft engine companies owing to the presence of leading aircraft engine companies and high military and defense spending in the United States. Development of sustainable aviation engines and hybrid-electric engines are slated to be the key trends driving the aircraft engine industry in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 63.39 Billion |
| Market size value in 2033 | USD 2602.56 Billion |
| Growth Rate | 51.1% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Aircraft Engine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aircraft Engine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aircraft Engine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aircraft Engine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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